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The US dollar, meanwhile, continued its surge on Friday, with the dollar index rising to an intraday high of $108, representing its highest level since November 2022.
The dollar's path forward President-elect Donald Trump speaks during a news conference at Mar-a-Lago, Tuesday, Jan. 7, 2025, in Palm Beach, Fla. (AP Photo/Evan Vucci) (ASSOCIATED PRESS)
The US dollar is likely to be the first asset to signal what markets think the election result will be. Strong liquidity and global 24-hour trading activity make the dollar a reliable indicator.
The dollar is set for a big weekly gain of 1.7% against its major peers. [FRX/] The euro was up 0.35% on the day at $1.056625, but was set for a weekly loss of 1.4%.
The US dollar is enjoying its longest winning streak in nearly nine years.
On Monday, Goldman Sachs strategists, who forecast the dollar rising another 5% this year, said the buck could rally even more if the U.S. economy continues to outperform despite higher tariffs ...
The U.S dollar's strength against other currencies is wreaking havoc in markets around the world and sending equity prices lower. 3 reasons why the U.S. dollar is strengthening: Strategist [Video ...
The U.S. Dollar Index traded up about 1.4% at 104.75, touching a level it hadn't seen since early August. Yields on 10-year and 2-year Treasury bonds had also climbed overnight.